As previously reported, BofA downgraded Ibotta (IBTA) to Underperform from Neutral with a price target of $24, down from $57. Ibotta reported “significantly weaker-than-expected” Q2 results and Q3 revenue guidance due to the decision by two clients testing the company’s new performance marketing model to pause spend in the program as well as tough industry conditions constraining promotional supply, the analyst tells investors. Visibility on the transition to a performance marketing model being “transformative,” as the company says it will be, is “highly uncertain,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IBTA:
- Ibotta downgraded to Underperform from Neutral at BofA
- Ibotta, Inc. Class A: Buy Rating Maintained Amidst CPID Growth Potential and Stable Revenue Outlook
- Ibotta downgraded to Market Perform from Outperform at Citizens JMP
- Ibotta Reports Mixed Q2 2025 Financial Results
- Ibotta downgraded to In Line from Outperform at Evercore ISI